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melissa: i'm melissa francis and here's what's "money" tonight. california's got its first ever fracking regulations but some say they go too far and could choke off access up to $15 billion barrels of oil. we'll drill down on the answers. >>> plus, more talk and no walk in washington. shocker there. both side insist we need to stop spending. not that they're cutting a single penny from a single government program. fox news's bret baier with the real cost of spending. >>> we all love a good hamburger, right? but is that pesky wrapper keep getting in your way? one fast-food chain may have solved the problem for good. they're making the wrapper edible. you have to see this one to believe it, trust me. even when they say it's not it is always about money. melissa: first, let's take a look at the day's market headlines. fiscal cliff talks may be a mess but not ruining the party for investors. u.s. third quarter gdp was revised up to 3.1%. not bad. november existing home seams -- sales hit nice not seen. wall street shares of the nyse euronext skyrocketed 34%. the company is being ac
at california. democrats don't just have a majority in the legislature now. they are going to have a super majority. meaning that republicans essentially don't have enough minority power to stop anything the democrats want to do. the same story in indiana, but for the republicans. indiana republicans will have a super majority in the house and in the senate and they hold the governor's mansion. dit to in oklahoma. they turned it into a bigger super majority. this is what happened in 2012. not just the disappearance of divided rule in the states. but the rise of super majority one party rule. that's a position of immense power for whichever party it is in control. they get to do what they want. if you think about it, you better trust those people because there's no bull work against them in these states. one state on the precipice of getting that super majority status is the great state of ohio. heading into this year's elections, republicans in ohio controlled the governor's mansion, house, and senate. in the senate, republicans currently have the super majority status. it's the democrats
really do. california tax pain could be arizona's gain. we talked to a mayor who's trying to lure businesses away from the formerly golden state. a reporter with the sporting news doesn't like tattoos. and says most quarterbacks do not have them. now, he's being labeled racist because of those remarks. we'll talk to him next hour. yeah, he's here. remember, we want to hear from you, send you e-mails varney@foxbusiness.com and please comment on tattoos. i personally hate them. now, seven early movers-- somebody is olling their eyes off camera. and pep boys post a loss on weak sales and down it goes. the drug maker jereon, says it has stopped developing its treatment for brain cancers and cut the work force by 40%, there it goes. and dividends for the next three quarters and all of them early, the stock is now up. and profit rises at the home builder, toll brothers and the company said new orders rose sharply. up goes the stock. and tellabs, another special cash dividend. up it goes. the medical supply company baxter is going to buy sweden's gambro he for about 4 billion dollars, d
, for an obama bailout. so, who is next? california, illinois, good question. raise tax rates on the rich or no deal. yeah, the line has been drawn again. president obama says america is poised to take off, but only if the republicans agree to tax the rich directly. he will only accept higher tax rates. how will speaker boehner respond to that? he speaks within the hour. and how about this, top anchors at a news network visit the white house for a cozy chat with the president. tell us, mr. president, how can we sell your tax the rich policy? citigroup, 11,000 jobs gone. "varney & company" about to begin. having you shipy gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ me announcer ] break from e holiday stress fedex office. >> we'll begin with sad news. dame elizabeth mother of news corporation chairman and chief executive rupert murdoch died at age 103. news point company fox. now sad news. and he's raised tax rates and he was elected based on his tax the rich pol
office. now one plan to take union pensions off of the backs of taxpayers has failed in california. government unions declaring a major victory and killing off a reform victory that replaced with 401 k style investment plans. it is a defeat for taxpayers how so? >> the pension under fundeds are massive. we'll see hikes in taxs and sales tax increases and more worse is bankruptcies. we see that in stockton and n bernardino. we go to court and bankruptcy law versus pension law. you can see current services cut. tax hikes and other lousy outcomes if we don't see reforms. >> you admit we are having problems paying out the pensions. they are bankrupting. >> the problem is that los angeles is not the place. and it is a ballot initiative. u have front runners tha become mayor . they will not support it it was a nonstarter and never going to work in the stave you have a bett chance of succeeding. >> at least it was a plan . it is no law that said you cannot change 401 k's. that is future andew hires and f their plans. you don't have ill defined benefits and by the way the private sector do
university, jesse watters investigating. and then adam carolla on his state, california, being the worst one in the union. those reports after these messages. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. so we created the extraordinarily comfortable sleep number experience. around a bed with dualair technology that allows you to adjust to the support your body needs - each of your bodies. our sleep professionals will help you find your sleep number settin exclusively at a sleep number store. sleep number. comfort individualized. this holiday season, give the gift that's magical: the innovative airfit adjustable pillow at special 30% savings. >> bill: watters world segment tonight, i didn't know this but fordham university has banned ann coulter. late last month student in the florida republic club invited ms. coulter to speak on campus. predictably those
investigating. and then adam carolla on his state, california, being the worst one in the union. those reports after these messages. there is no mass-produced human. every human being is unique. and there is one store that recognizes it. the sleep number store. the only place in the world you'll find the extraordinarily comfortable sleep number experience. an exclusive collection of innovations that totally individualize your sleep. perfectly comfortable pillows that adjust to your size and shape. temperature-balancing bedding. dual warmth comforters. all designed around the sleep number bed: a bed with dual-air technology that allows you to adjust to the support your body needs. each of your bodies. in the name of human individuality: the sleep number collection. discover how our sleep professionals can individualize your sleep experience. exclusively at one of our 400 sleep number stores nationwide. sleep number. comfort individualized. this holiday season, give the gift that's magical: the innovative airfit adjustable pillow at special 30% savings. (car horn) paying with your smartphone ins
for him. now, california bankrupt as you all know and this is one of the reasons why. the head of the highway patrol in california is a guy named jeff talbott. we believe he's a patriotic american. there he is. in his last year, 'cause he's retired now, jeff collected about a half million dollars in salary. half million dollars. okay? and he retired on $175,000 a year pension. jeff is a police officer. what are you laughing about? you don't think jeff deserves half million? >> god bless jeff. god bless everybody. i mean, the fact -- the season, god bless everybody. but when we have state patrol officers in the state of california walking away with 90% of their highest salary as their pension -- >> bill: they can't pay it. >> there is a reason they call california lala land. >> bill: that's the crux of the matter everywhere. pensions, over time, unions and the folks don't have enough money to pay it. am i oversimplifying it? >> you are simplifying it brilliantly. >> bill: we're sorry to pick on you, jeff. as i said, i believe he's a patriot. probable will he gave his whole caree
the price is still the highest ever for this time in december. california, a national carbon tax could be on the the way, they've got one already, how is that working out? and china may be the number one economy soon. really? "varney & company" about to begin. >> right off the top, breaking news for you now. fox business learned that a group claimed to be aligned with terrorism is threatening to launch a massive attack against u.s. bank websites and made that threat in the fall and this is a new threat set to start this week, we hear. and a list of banks targeted includes j.p. morgan chase, bank of america, u.s. bancorp, pnc financial services and suntrust banks. more details when we've got them. the power and might of unions on display today and being tested. you will see huge protests at the state capital building in michigan where right to work legislation will be signed today. that means workers will be able to choose if they want to join the union. they will no longer be compelled to pay dues. here is the president speaking at a daimler factory in michigan yesterday. >> we do eve
've been saying since election day on "varney & company," a carbon tax may be coming. california already has one and fueled by a new report on the melting polar ice cap, it could be just a matter much time before the left pushes a carbon tax through. would it stop rising temperatures? would it? joining the company is bjorn lump berg, and one of the foremost authorities on environmental. and did you get chucked out of denmark. >> i mean, in the sense of the new government cut off my funding. stuart: because of your position on global warming and environmentalism. >> yes we don't want to it hear good advice. stuart: what's your advice on the carbon tax, if we got one, would it help reduce co 2 emissions? >> well, any climate economist would say a low carbon tax makes sense, but the problem is, it will only cut a very tiny amount and of course, what you really have to remember, you're never going to get china or india on board. so essentially, it's going to have a very, very small effect. it's not the solution to climate change. >> would you say that the co 2 emissions are causing temperatu
♪ >>> massive and widespread flooding hits california in a major way. we'll have a live report straight ahead. >>> the kansas city chiefs pull off a win the day after one of their own commits suicide. new details about his death, the murder of his girl friend and what happens their 3-month-old baby. >>> and an entire town is evacuated this morning. find out the unusual reason why in just two minutes. good morning. welcome to "early start" for a monday morning. >> yes. >> hard to get up on a monday, isn't it? >> it sure is. >> i'm alina cho. >> i'm zoraida sambolin. today is december 3rd. it is 5:00 a.m. in the east. the rain keeps coming in northern california. the third pacific storm unleashing floodwaters, knocking out power to thousands in san francisc francisco, sacramento and thousands of others. >> this thing just went up fast. real fast. we had previously had it gotten up high, but it hasn't gotten this bad. >> you live right here in the park? >> right there. >> right there. >> right there. i got my mom out. i took her down to a friend's house down the street. you never
, everyone, a leading internet gun seller suspends all sales. the california teachers pension fund thinks about getting out of gun stops. the bush master gun maker has been put up for sale. and friday marked a sea change. richard trumka has taxes and spending. a dead ringer for big labor's plans delivered to the white house. facebook makes a pr push, mark zuckerberg, a half billion to charity and you are getting out of general motors and you lost. wednesday, december 19th, "varney & company" about to begin. >> good morning, everyone, general motors, it's about you the taxpayer. you are getting out. and they will sell 300 shares by a pre-arranged written trading agreement. don't know the price. plus, gm will buy 200 million shares from the treasury, that means is taxpayer loss is being locked in. how much? we're not sure. taxpayers, by the way, put in 49 1/2 billion into general motors. the bid-ask shows gm up today. now, the gun industry, that's feeling the impact of last week's shooting in connecticut. cheaper than dirt one of the biggest on-line retailer has stopped selling firearms an
, nicole, more proof that the california is the formerly golden state. and tens of thousands leaving and is mike reagan ready to join them in the mass exodus. make it with them. just look at this. there's still room in my house for you in new jersey, okay? >> see you on the 7th. >> stocks will be higher when trading begins at 12:15 eastern time. right around noon time today we're going to get the official word from the federal reserve. is ben going to print a ton more money or not. odds are the answer is yes. he's going to keep on printing and if president obama keeps spending and he will, it looks like a nice stock market rally on our hands and by the way, the dow is already around 13250 headed north by the looks of it. in the early going the dow jones industrials have opened higher. a big name you know, costco, better than expected profit. let's kick it off. where is the stock? >> a winner is a winner, up .8% and it's a winner because how with numbers beat the street. a couple of things when you delve into the wholesale retailer and a 30% rise in quarterly profit and this did beat
for having me. stuart: new at ten, it's on its way, a california highway patrol officer paid nearly a half million dollars in total compensation and he's still working. we'll have more of the outrageous numbers from the public employee from the golden state the top of the hour. as we all the say, time is money and 30 seconds of what we're watching. would grover norquist approve the higher tax rate that speaker boehner okayed. they will he' vote on them this week and we'll get answers straight from grover on the program today. the dangers of smoking well-known to kids, how about chewing tobacco and dip? bigger increase of those kids using products and ask because of the 440 million dollar ad campaign? i'll tell you the story of a man who has flown 1 million miles this year commercial, all of this on united. e-mail us please varney@foxbusiness.com. 7 early movers this tuesday morning. boeing expects to buy back as much as 2 billion dollars worth of its own stock next year, raising dividend and not moving up the payment so shareholders may get the money under higher tax rates and the stock do
, will not have their taxes raised. we need to take the example from california. california did it, people voted for. melissa: goodness, california will go bankrupt and they're falling off in the ocean. i would never want to imitate california. >> california. california is doing much better. melissa: you're a great sport. thanks for coming on. we appreciate your time. >> all right. melissa: many so. country's mow powerful democrats unveiled a new tax plan aiming not so much at the rich but aimed at favorite vices. would the pain be worth the gain? >>> the government extends an olive branch to the protesters and get firebombed in return. will it swallow the morsi government and middle east security along with it? more "money" coming up. ♪ . i always wait until the last minute. can i still ship a gift in time r christmas? yeah, sure you can. great. where's your gift? uh... hew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. ♪. melissa: for a moment forget what you're hearing to avoid the fiscal cliff, balance the budget and decreas
services. >>> president obama is closely monitoring a week-long strike at two southern california ports. 800 members of the clerical union who work at the ports of los angeles and long beach had been working without a contract for more than two years. the clerks don't handle cargo but dock workers are refusing to cross picket lines forcing a shutdown of most terminals. experts estimate the strike is costing the u.s. up to $1 billion a day. and it could delay shipments of holiday gift merchandise. >>> there's a tentative contract agreement between port of oakland and union workers. two weeks ago, more than 500 members of seiu local 1021 went on strike. they had been at the bargaining table for 16 months. details of the agreement will be released when the contract is voted on tomorrow. >>> president obama will host a group of governors today to talk about the "fiscal cliff" after he rejected a counterproposal from congressional republicans. that plan promised to trim $2.2 trillion over the next 10 years and cuts from entitlements and billions in new tax revenues only from tax reform. and
. >> former marstationed who statd himself in front of central california elementary school since the newtown shooting is facing questions about his service history tonight. craig earned praise for doing guard duty at elementary school in houston just south of modest t to. but mat arena corps revie reviewed statements he made to the local newspaper. corps says he was not a reservist and never deployed to afghanistan. he was discharged in 2008 as private after serving less than one year. tonight police are looking for the hit-and-run driver who killed a man and his dog. it happened this morning at the intersection of sutter street and louisiana street show it to you on the map. 64-year-old man was returning from a walk with his dog when they were struck. victim is a resident of vallejo. driver and vehicle still nowhere to be found tonight. >>> in oakland police are searching for 2 people whose gun battle caught a grandmother in the cross fire. 47-year-old ramona foreman walk with her sister last night in front of a store on international boulevard at 92 avenue two men began shooting at
york to northern california creating christmas chaos for some parts of the country. >> we're hoping we don't sit on the runway. we did that last time and it's not fun. >> reporter: in chicago, paula gagerman and her three daughters arrived early for their christmas eve flight. they are among the millions taking to the crowded skies today. what's that stress like when you got to get somewhere and you're traveling with family and it's not -- mother nature is not cooperating? >> extremely stressful. >> we're like, come on, come on, come on. we just want to get there. come on, we're going to be late, we're going to be late, come on. it's really annoying. >> reporter: in northern california, a huge storm caused a big wrench in weekend travelers' plans. >> after i found out my flight had been canceled after four hours of waiting in the airport, i had to wait in another three-hour customer service line. >> reporter: and it's not just in the air. on the roads, holiday travel is up 1.6% this year. some 84.4 million americans getting behind the wheel. and another 5.6 million traveling by plane.
. >>> in california, a law that mainstream mental health groups and equal rights advocates have held as a milestone is under attack tonight. the law bans so-called conversion therapy or reparative therapy, a so-called treatment that claims to turn gay children and teenagers straight. california's ban was scheduled to take effect january 1st but in the last 48 hours, two federal judges have issued opposing rulings in separate lawsuits challenging the ban. one judge ruled that three plaintiffs will be able to continue offering the therapy until their trial is over. the other judge denied an injunction to a separate set of plaintiffs. both lawsuits, it's confusing, but both lawsuits claim that banning the so-called therapy violates therapists' first amendment rights. keep in mind, nearly all mainstream medical and psychological associations say there's no solid evidence that any of these therapies work, while they also say they may be damaging. we're talking about kids, teenagers who often don't choose this therapy for themselves. it's often chosen by their parents. dr. drew pinsky has pretty strong t
, assistant majority leader dick durbin of illinois, and california republican congressman kevin mccarthy. welcome to you both. i'll get to some of the foreign policy questions later, but i want to talk about what's been top of mind for both of you, and that is the fiscal cliff deadline that congress faces. the reality is, if you hear it from the outside, these public statements from both sides, it doesn't sound very good. here's speaker boehner and the president talking at the end of the week. >> when it comes to the fiscal cliff, this threatening of our economy and threatening jobs, the white house has wasted another week. the president has adopted a deliberate strategy to slow walk or economy right to the edge of the fiscal cliff. >> we're going to have to see the rates on the top 2% go up. and we're not going to be able to get a deal without it. >> so here's my sense, congressman mccarthy. why in the minds of republicans aren't they processing it this way? look, president, we'll give you what you want on rates. let them go up. but we have to get something in return. big cuts in
sanchez. she is from the beautiful state of california. congresswoman, good to see you. are you on board with this? >> well, i will have to see the moving pieces before i make a decision on things. certainly, i always thought that if we could, we would put in corporate tax rates, not individual rates. we will see. we will see if the president and speaker boehner can come up with a deal. and, secondly, if speaker boehner has enough votes to have enough people vote for it. dagen: we have heard from senator harry reid once again. if the democrats do not get the tax increase on wealthy americans that he is willing to go over the cliff, the end of the year. we are awfully close. >> remember that congress always has the ability to set a new set of tax rates. even if we went through december 31 and these rates went away and everybody's taxes increased, honestly, some more than others, we could, as a congress, go back and try to do pieces of that to try to bring some of those rates down for some people. i think that is what my republican colleagues are really the most afraid of. once you lose th
in california and a tax rate that will be 53%. killing entrepreneurs and business. what flight attendants really think about the passengers. oh, like we don't know, you treat us all like dirt on your shoe. connell: the cove petallides is back. she is talking about aig. nicole: let's talk about aig. it will be less than a sale than they had hoped. the aircraft leasing business. they are selling it to a consortium of chinese companies for $4.8 billion. the stock is down about 1.5%. aig is up the dow ones industrials have an up arrow. some of the tech stocks are really leading the way. karl icahn may be getting involved. we certainly have a lot of winners here on the dow jones industrials. take a look at mcdonald's. up 1.4%. they have been doing so well with the preface sandwiches here in the united states. connell: thank you. connell: let's go to rich@. rich: more than a billion dollars in criminal fines. the fines include more than a half billion dollars for auto parts companies and executives. those and several other smaller fines totaled more than $1.1 billion. the former director says the ong
in california and have been for the past week. both sides reportedly agreed to federal mediation in the strike but close to a billion dollars a day is still being lost. we have the president of the harbor trucking association and 32 of his 35 truck drivers are out of work as a result of the strike. he has aaso been unable to deliver goods to businesses in this area. fred, do you think the federal meddators will be able to resolve this strike? >> our fingers are crossed, melissa. this is important. we need to get this thing over quickly. melissa: fred, what has it meant to you personally? >> it is hard to account for what the cost of this is. it probably won't be accounted for until after the strike is over when all the ramifications have dom noted down buttit is always devastating to me personally. and it is worrisome for me about my employees and my drivers. melissa: we look at numbers that are involved here and everyone has their estimate and they're arguing over whose estimates are right but what we see is 1.2 million jobs are supported by the ports. 400 billion is in goods move through the
living in dorms. >>> arizona isn't the only state to protest the controversial share fair. california is doing it too. drag queens calling themselves the sisters of perpetual indulgency invaded a dinner party for joe arpaio. he spoke at a middle school after he received 50 letters from 8th graders questioning him about the immigration rules, but the school canceled the meeting. >> they accused me of running concentration camps, they called me a racist, so i wanted to meet with the kids and tell them the truth. >>> the school district's media rep said she was too busy to explain on camera but denied there was ever a meeting between the two. >>> 5:10 now, chemical weapon concerns is the united states ready to use military force in syria. >>> plus christmas miracle, a van smashes into a busy georgia jewelry store. how no one was serious lip hurt. >>> and the cute cubs now in the spotlight at the san diego zoo. >>> what is cool about your school, you can submit your nomination on our web site cbssf.com/cool school and we may come out and feature your school on our show. we'll be right bac
of the university of southern, california where dean torrens was a student studying graphics where they would meet to discuss the bizarre plan to make some fast cash. >> we had done business deals together and this was in my mind another are opportunity. >> did he tell you he thought you were crazy? >> yes. >> and what did you say? >> i said i'm crazy but why don't you you loan me $500 and i won't bother you and let you get back to it your class. >> and gave you more than one check throughout this whole time? >> he gave me three or four. >> keenan used the money to hire help with the kidnapping plan. the first call went to his mother's ex-boyfriend a 42-year-old house painter named john irwin. >> he had fallen on hard times when i was making a lot of money and i set him and his family up with housing and a car. >> so he owed you one? >> and i called that in. he reluctantly agreed to go along. >> keenan discovered that is sinatra, jr. was appearing at the arizona state fair. they flew to phoenix with the intention of snatching him there. realizing they made some key mistakes including leaving their
blocked california law banning gay conversion therapy. ninth circuit court of appeals issued emergency order putting the law on hold until it can hear full arguments on this issue. the law banning conversion therapy that aims to turn gay minor straight was to take effect on january 1st. counts lors who practice the therapy and 2 family who say the teenager son benefit from it saw it injunction after lower court refused their request. >>> big oil making a big move out of the bay area. chevron announced today it's moving 800 workers out of its san ramone headquarters for greener pasture in texas. here's business technology reporter david. >> it's not something that you want to see losing 800 job. that's a big impact here in san ramone. >>reporter: 800 jobs is a fourth of the total work force at san ramone headquarters. chevron told affected work twors months ago but didn't make it public until it sent out an all employee e-mail yesterday. all 5 of these support 7 ron and all workers now work side by side in houston. chevron said the headquarters will remain in san ramone. stewart
the statue of tommy trojan on the campus of the university of southern, california where dean torrens was a student studying graphics where they would meet to discuss the bizarre plan to make some fast cash. >> we had done business deals together and this was in my mind another are opportunity. >> did he tell you he thought you were crazy? >> yes. >> and what did you say? >> i said i'm crazy but why don't you you loan me $500 and i won't bother you and let you get back to it your class. >> and gave you more than one check throughout this whole time? >> he gave me three or four. >> keenan used the money to hire help with the kidnapping plan. the first call went to his mother's ex-boyfriend a 42-year-old house painter named john irwin. >> he had fallen on hard times when i was making a lot of money and i set him and his family up with housing and a car. >> so he owed you one? >> and i called that in. he reluctantly agreed to go along. >> keenan discovered that is sinatra, jr. was appearing at the arizona state fair. they flew to phoenix with the intention of snatching him there. realizi
in china. now, chinese government responded to complaints in a letter addressed to a california congressman. it's a story you'll see only on 7. >> it's been... sad, hard on the family. i think what is harder is to understand why almost, you know what is it? seven months later there are more dead dlogs. nothing changed. >> since then, she's been relentlessly campaigning to have treats recalled. fda acknowledges thousands of complaints. they asked to consider halting production until the fda can determine whether or not the products contain tainted materials chinese government wrote back slamming the fda. the cause of the deaths have not been determined. wrote from the perspective of thew76: chinese side there might be something wrong with the fda investigation guidance. >> i don't believe that. they're one of the top scientists. >> the letter from the people's republic of china warned not to influence public opinion ask z.to clear the q eliminate the negative impact m they will be receiving several feet of snow f you have travel plans to head out there, winter storm watch going up friday mo
of california is getting ready to fix some policyholders with a rate increase. lots more still to come on fox business. ♪ connell: breaking news out of washington. here is the speaker of the house, john boehner. >> to avert the fiscal cliff with a bipartisan agreement. that is truly solid and begins to solve our spending problem. the president still has not made an offer that meets those two standards. republicans have. the president promising american people a balanced approach, his proposals have been anything but. instead of beginning to solve our debt problem, he wants new stimulus spending and the ability to raise the debt limit whenever he wants without any cuts or reforms. that is clear that the president is not serious about cutting spending. the spending is the problem. how big a problem? i look at this report put together by paul ryan and the budget committee. here, if the president got everything he wanted, $1.4 trillion in taxes, this is what that would represent. if you look at the spending problem, you see it does nothing. nothing to solve the spending power of our country has
on president obama's new offer and john boehner's new backup plan. trrcy: one california industry that can abide rising taxes. we will tell you how vineyards and hundreds of thousands of employees are coping. ashley: solid gains for stocks in 2012. one big money strategist is going defensive for the new year. ing's bug could they will be here. tracy: the dow is up 110 points time for stocks as we do every 15 minutes. nicole petallides on the floor of the stock exchange. good day so far. nicole: if you are a bowl you are happy, and things up 110 points and up nearly 1% on the dow jones industrials, the s&p 500 up 1% as well ended ticketing nasdaq up 1-1/4% and we are trending to the upside and there is a belief that washington will in some way, shape or form solve the issues pertaining to the fiscal cliff and financials have been taking off and that has helped things along and shown seller strength as well and bank of america is the best performer of the financial industry on the s&p 500. bank of america hit a 52 week high trading as high as $11.28, is up $0.19 but you see 1.5% and yesterda
. a number of chinese women arrived in california on legal visas and they go to chino hills and theracious parently is like a hill top home there. you can see it . they take up residence. leavemention they are until they have their babis and they are anchor babis and automatically u.s. citizen. >> gretchen: this is not the only hotel in california who does this. there are similar situations before. what do you think about that. there is it a debate in congress. little bit on and off. this is about the baby anchor situation. should it be or is it okay? even if you didn't come and go to a hotel or flew here on your own hotel room and had the baby here it is still a american citizens. >> steve: they pay thousands of dollars and they did have protest and the protesters say they don't want a business in a residential area. e-mail us at foxandfriends.com. >> brian: the construction industry is struggling. how to get hired right now. that story coming your way. >> steve: hollywood legend dean martin here with stories you never heard. good morning, dina. ♪ ♪ [ male announcer ] progresso. you g
are now estimated to be in the range of $2.5 trillion to almost $4 trillion. leading is california with more than $370 billion in unfunded pension liabilities, only 47% are currently funded. a pension debt per household in california of almost $30,000. illinois close behind, $167 billion in unfunded liabilities, 28% funded, and the state pension debt per household amounting to over $34,000. in municipal bonds illinois sold over $5 billion in bonds this year making it the third biggest debt issuer in the first three quarters this year. california and new york, numbers one and two with. the issue of unfunded pension liabilities with the passage of right-to-work laws is a subject that i'm going to be taking up with our next guest. -@mallory factor, author of can the bestseller, "shadow boxes: government nioos control america and rob taxpayers blind." we are delighted to have you with us. let's turn first, if i may, to the president telling autoworkers that right-to work-laws don't have anything to do with economics, they have everything to do with politics. your reaction? >> that's a
council. new governmt data suggests that a massive exodus from high tax state of california. california lost 100,000 more residents than it gained last year, more going to more business-friendly. business-friendly, states like texas. and california public employees have highest salaries in the 12 most populous state, earning on average $60,000 a year. >> major victory for gun rights advocates, a court struck down a ba on carryg weapons in the state of illinois, they rule that ban is unconstitutional. >> former nfl commissioner paul tag leah buhas overturned the saints suspension. he found three of the four engaged in conduct but said that the coaches and front office are to blame. for what he called the cash for hits program. >> up next, president yet rallying union troops again right to work legislation that is tonight, law, some michigan students today suffering the consequences, the a-team coming up. joining us here next, stay with us. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier th
keep flying in and dropping the money, i am from the state of california, the state of california vottd to make -- it is the highest tacked taxed place on the planet, meanwhile, jobs and people are leaving california. we have to cut, people are not ready for it yet. >> what is ever ready for a big tax hike? we'll get a big tax hike on january 1st as i just reported. here is $2 70 billion in new taxes, they will hit middle class, working men and women. this is a game in which the president has succeeded in diverting national media from real issue. which is he, said he would not raise taxes on middle class, he will shove them down their throat on january 1st. i mean -- and the republicans are not talking about it. congressman, why not? in we're trying to. that is why i'm on your show. also. lou: fire away. >> it is important, i want to split up the issues. so what happens on january 1st, people will feel it will be with payroll tax, and amt, alternative minimum tax, cut to medicare, and cuts to defense. that is for real, that happens. that is immediate. the rise in rates due to obamacare,
in california. three storms in less than a week and at least one death attributed to those storms. more rain is expected today. rob marciano is following it all from the cnn weather center in atlanta. a lot of rain headed their direction? >> yes. not as much as last week, but the ground is already sat ratur. napa valley has been getting hit hard. the russian river up and over flood banks. now they will ease back into the riverbeds, but with additional rainfall today, it may go back into flood stage there. there is the latest video showing a couple glimmers of sunshine, that was short-lived yesterday. how much rainfall have we seen in the last few days? in a six-day total almost two feet of rain at mount sast ta. sterling city, 21 inches of rainfall. sims, california, 17.9. this is tremendous rainfall for a nontropical area. it has a tropical connection, because it's coming from the direction of hawaii, but still a mid and northern latitude situation. seattle and portland seeing some rain, snow at the higher elevations. if anything is a saving grace, it's a little cooler this go-around, so so
, and it's your money on the line, literally. california paying phone bills for land lines of a lot of low income people. now it's ready to give out cell phones to homeless people and folks already gets welfare and food stamps. california just pproving a federal plan that could hook up more than 4 million people. charles payne, not too enthusiastic about this. charles, you and i talked in the break that the logic of this is it leads them to get a job or contact loved ones; right? >> right. that's the supposed rationale. we heard president obama talk about this for some of the justifications of laying down computer lines in rural areas because in a modern society, the only way you get a job these days is to have access to the internet, and, in this case, they are saying, you know, you have a telephone, relatives can call you, but the honest truth of it is, you know, because i don't think it's new, but i believe some form of a computer will be next. that's the string l logic. listen, it's unfair to the people they can't go online to a job site and post their resumÉ. of course, every time th
with this fiscal cliff some people in california are about to get sucker-punched by higher health care costs too. blue shield of california says they will be raising premiums by as much as 20% as a result of the increased costs associated with, obamacare. but here's the kicker. if that is not already. blue shield of california has $3.9 billion of cash already on hand. that is nearly three times more as they're required to v should they even be allowed to jack up their premiums this much? and will other insurers soon follow suit? to follow this we have the former president and ceo of intergirs health and author of the book, political malpractice. thanks for joining us tonight. >> thank you, sandra. sandra: my question, blue shield wants to raise rates by average of 12%. in some cases they will be raised 20%. could you call this the unintended condition sequences of obamacare? >> well it was certainly predictable. when you begin to add things which are favorable to consumers but perhaps very expensive to insurance companies you could expected the insurance companies to cover their bets. preexistin
growing regions in california which napa is only one. average price of a ton of wine grapes in california was $632. but for napa $3300. >> while the napa grapes are valuable analysts note other reits have tried and failed to break into the wine business. the industry is fraught with risks running from harsh weather to production problems to pricing pressure from less expensive domestic or imported rivals. how can you succeed where other reits tried and failed? >> i think first having right assets. 90% of the wine comes from california but only 4% comes from the napa valley. second is the winery we're working with, sterling vineyards, 40 years of success. finally diageo as parent which is one of the strongest companies out there in the world we have steady cash flows from the wine business. >> that revenue stream flows straight through to investors. look at this chart. stockholders reinvested realty income monthly dividends drinking in magnum sized return over past decade doubling up the s&p 500 during that time. keep in mind long-term leasing deals but economic downturn may cause problems
hand. >> rick: we begin with a fox news extreme weather alert out of northern california. they're now being slammed there by another in a series of severe storms that have already killed one person. the region already dealing with flash floods, mud slides, downed trees, power lines. people there say they've never seen anything like it. >> i haven't seen this in many years. this much water running through my property. that water runup should not come on our property. they have to have holding ponds or some sort of drainage in place to divert or what have you, from my property 'cause it's just below there. >> rick: dominic is live in california with the very latest. dominic? >> hey there, rick. suddenly round three tonight and we're going to see the heaviest rain since this began on wednesday. in fact, possibly more rainfalling tonight than the last two storms combined, believe it or not. it could be as much as ten inches of rain that falls in parts 6789 we've already seen mud slides in certain parts of california. in two areas block off highways, also partly destroying some homes. one
to california's proposition 8 which took away the right for gays and lesbians to legally wed in the state. now the court's expected to hear arguments in march, with a ruling by late june. and the decision to take on the issue comes just weeks after voters in three more states approved same of sex marriage. joining me now, cnn's legal analyst jeffrey toobin. how big is this? put this in perspective. >> huge. this is really a major event in american history, not just court history. same-sex marriage now is at the center of the american legal world. this was a cause that was seen as a fringe issue as recently as the '90s. >> it wasn't even mentioned as a possibility. >> it was not even mentioned. polling has gone from, you know, approximately 20% to 30% support in the '90s. now gallup poll showed 53%. exist polls showed 49%. now ark fears command close to a majority support. and now the supreme court may decide that same-sex marriage will be the law of the land everywhere. >> how much of this has been affected by the fact that for the first time in this last election you have people going to the
that is helping thome start their liefer lives here. >> the issue of same-sex marriage, prop 8 in california, the justices are taking that on and the defense of main. but we will have our own fair and balanced debate, right after this break. [ male announcer ] red lobster's crabfest ends soon. hurry in and try five succulent entrees, like ourender snow crab paired with savory garlic shrimp. just $12.99. come into red lobster and sea food differently. and introducing 7 lunch choices for just $7.99. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. [ male announcer ] jill and her mouth have lived a great life. but she has some dental issues she's not happy about. so i introduced jill to crest pro-health for life. selected for people over 50. pro-health for life is a toothpaste that defends against tender, inflamed gums, sensitivity and weak enamel. conditions people over 50 experience. crest pro-health for life. so jill can keep living the good life. crest. life opens up when you do. >> updating b
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